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26 October, 12:10

A share of stock in the Bree Medical Supply Company is quoted at 351/4. Suppose you hold 20 shares of that stock, which you bought at 311/2. If you sold your stock at 351/4, which of the following would be true? A. You suffered a loss of $630.00. B. You made a profit of $75.00. C. You made a profit of $705.00. D. You suffered a loss of $75.00.

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  1. 26 October, 15:46
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    B. You made a profit of $75.00

    Explanation:

    shares x (sale - buy)

    20 shares x (35 & 1/4 - 31 & 1/2)

    20 x (35.25-31.5)

    20 x 3.75 = 75

    The difference between purchase and sale price is positive, so eahc share yields a gain of $3.75

    We multiply this by the amount of shares to determiante the gain
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